Accrued Incentive Compensation definition
Accrued Incentive Compensation means the amount of any annual short-term incentive compensation earned with respect to the calendar year ended prior to the Date of Termination (as defined in Section 5) but not yet paid as of the Executive’s Date of Termination.
Accrued Incentive Compensation means the quarterly variable bonus amount, as established by the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”), pro-rated to the date of termination and payable only if and to the extent that the established targets for the applicable quarter were met.
Accrued Incentive Compensation. Accrued Incentive Compensation is the pro-rata variable bonus/commission amount, as established by the Compensation Committee of the Company's Board of Directors (the "Compensation Committee"), that has been earned but has not yet been paid, including both the quarterly and the annual component, if any, in each case pro-rated to the date of termination. The pro-rata amount shall be calculated on a per diem basis from the beginning of the quarter or year to the date of termination, or be calculated based on the percent of commission achieved from the beginning of the quarter or year to the date of termination, whichever is greater. For example, if termination were to occur on August 15 of a year the Employee would be deemed to have earned 46/91 of any quarterly variable bonus for the third quarter and 228/365 of any annual component of the variable bonus.
Examples of Accrued Incentive Compensation in a sentence
The Company shall pay you, not later than thirty (30) days following your Date of Termination, the amount of your Accrued Incentive Compensation.
For the purpose of determining the amount of your Accrued Incentive Compensation under this Paragraph 2a(ii), you will be deemed to have been paid the full amount of all prior variable and incentive compensation, whether or not such award was includible in your gross income for Federal Income tax purposes.